Business, 08.07.2021 16:00 ntrann22

May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1.

a. Paid $160 for janitorial services.
b. Paid $120 for miscellaneous expenses.
c. Paid postage expenses of $80.
d. Paid $41 to The County Gazette (the local newspaper) for an advertisement.
e. Counted $63 remaining in the petty cash box.

May 16 Prepared a company check for $150 to increase the fund to $600.
May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15.

f. Paid postage expenses of $205.
g. Reimbursed the office manager for business mileage, $103.
h. Paid $34 to deliver merchandise to a customer, terms FOB destination.
May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480.

Required:
Journalize the entries.

Answers: 3

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May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company...

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